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FOX Business
Oct 4, 2012 12:00am EDT
officers. >> they're not doing what they were hired to do. >> even defense is riddled with waste the post office can not even close will offices civic this governor closed parts of government. >> and people in government think they are a genius. peppermint inc.. today. >> that is what we call the show but what does that mean? doing what private sector should do. health care, transportation and mail. it is faster and cheaper if they step aside and let competitors compete. they bring in the managers' index birds suddenly they could. they are so smart. government decided to build cars. it was a terrible car. but central planning said it was great. once the berlin wall came down and had competition it disappeared. but when government runs things, this is what we get to. allows the -- lousy product and services. we need some government. not too much. my first guest is a governor but you would be surprised how much government you did not mince. mitch daniels. >> you will not mince real-estate vehicles and planes. not the lousy service its bid is there. >> if there are more than a couple of comp
FOX Business
Oct 4, 2012 8:00pm EDT
, it is the president who is on defense. critics who say he has lost his fight in that his own supporters to my he was the election. ninety minutes of merciless pounding a chance of an otherwise very amenable mormon will do that. game not over. obama reelection not done. and mitt romney not toast. weeks to go. came on. a wall street that had dismissed his chances now saying all bets off. good for the challenger, not so good for a president that many argue looked more like a chump after the debate, now suddenly no debate. the president's. >> the people out there who are working every day you're not getting a tax cut, and you want to give them more. stock like you want to close the loopholes. you just want to add an additional tax cut over the loopholes, and that is a problem. neil: that was then. four years later clearly not as energized now. >> let's talk about taxes because i think it is instructive. now, four years ago when i stood on the status said that i would cut taxes for middle-class families. neil: the president is losing steam on stage. already fragile base. this is the basis that if you
FOX Business
Oct 2, 2012 5:00pm EDT
massive defense industry layoffs are many looking, the white house looking for political cover and taxpayers could pay for the a tax shelter. we'll explain coming up after the break. ♪ . ♪ . melissa: so when it comes to unemployment benefits shouldn't there be a salary cap who is entitled to collect? a new report from the congressional research service finds thousands of millionaires collected unemployment checks during the recession. nearly one million households earning more than 100 grand a year did as well. some in congress want to cut them off. i say, they paid for it. but here to disagree with me is senior policy analyst at the heritage foundation, james sherk. james, thanks so much for joining us. make your argument. why do you think we should cut these folks off? >> the unemployment insurance system is designed as an insurance system but the premiums only cover six months of benefits. during the recession the congress extended the benefits up to two years. now year-and-a-half worth of benefits. but workers are still only paying premiums that cover six months of bene
FOX Business
Oct 3, 2012 12:00am EDT
of the nation's wealthiest are collecting them. should we cut them off? >>> plus massive defense industry layoffs are many looking, the white house looking for political cover and taxpayers coulday for the a tax shelter. we'll explain coming up after the break. ♪ . gecko (clearing throat) thank you, mr. speaker, uh, members of congress. in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. ♪ . melissa: so when it comes to unemployment benefits shouldn't there be a salary cap who is entitled to collect? a new report from the congressional research service finds thousands of millionaires collected unemployment checks during the recession. nearly one million households earning more than 10
FOX Business
Oct 1, 2012 3:00pm EDT
of the fourth quarter. then the fed chairman started speaking, ben bernanke offering his best defense for pouring more fed dollars in economy, and the markets pulled back. rich edson will have more on mr. bernanke's speech coming up. and the dow is still up, 161 points, that is the biggest intraday point gain, by the way, since september the 13th financial stocks leading the dow right now including, yes, the bank of america, america express, jpmorgan all having banner days. microsoft remaining the biggest laggard after two price targets cuts from jeffrey's and rbc. we've got traders at the new york stock exchange, the cme group and the nymex. let's take a look at the cme, charlie needles, the cme. charlie, what a day? is it all on the back of the ism numbers? >> it is. you know, chi pmi came out overnight, and that showed things have stabilized there, in china. european pmi was in line, not lighting the world on fire. a little concern over the employment situation there. but if you look at the breakdown of the u.s. pmi, you kind of hit on all cylinders. the prices paid was actually a
FOX Business
Oct 2, 2012 9:20am EDT
" today. romney forced to play defense. number two, mitt romney versus mitt romney, oh, and president obama will be there, too. remember, please the economy is at stall speed. unemployment 8%, and foreign policy in the middle east unravelling, little mention in the mainstream media. listen from the obama campaign team in advance of debate campaign spokeswoman, quote, what the american people are looking for is not just a professorial list of facts or accomplishments or even goals. obama has a tendency to give long substantive answers. simply, she is saying the president too smart for the average american. here is the washington examiner's reaction to that quote. worry about obama being too professor professorial to couch-sitting beer drinkers. the polls have him ahead and bill o'reilly is here to talk about the debate and how the media will spin it. all the names at the top of the hour. bill o'reilly. and talking to college student at university of michigan as part of the job creations solutions tour, and responded to the heckler. listen to this. >> this is the-- [crowd boos] . >> usa
FOX Business
Oct 2, 2012 11:00am EDT
. [talking over each other] connell: department of defense telling lockheed martin not to be concerned about the fiscal cliff at the end of the year. rich edson at the pentagon to report on that. dagen: more problems for american airlines. when will that end? is it a labor fight? looking at the markets underrated but we don't like looking at it. so anyway, i've been to a lot of places. you know, i've helped a lot of people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. robert: i am robert gray. republican senator chuck grassley of iowa turning up the heat on tim geithner. charlie gasparino reports that the senator wants to know what tim geithner knew about manipulations and when he knew it. grassley is asking tim geithner if he defends not telling congress about manipulation in 2008. u.s. automakers reporting mixed septembe
FOX Business
Sep 28, 2012 6:00pm EDT
that the economy is at risk for falling off. part of that includes the deep defense cuts. so concerned about these cuts, yet we are calling for additional regulatory costs. it is like again getting back to the priorities. these are troubling times. >> we have our priorities all wrong. the defense cuts are very bad policy. secretary of defense has said is the hall of the u.s. military and heard his readiness and ability to defend our nation. that's a terrible idea. we are now finding a more and more about the sequester. the law says that if you're going to cut the defense spending and lay off workers the contractors have to give those workers 60 days' notice. that would have come before the election. conveniently department of labor says you don't have to send out those notices. today we found that the administration said that those same contractors guy if you don't send out a notice and get sued we will pay all legal costs. now the taxpayer is going to be on the hook for the compensation and legal costs because everyone will see knowing that the money is there. lori: so, with reference to th
FOX Business
Oct 2, 2012 3:00pm EDT
it will not be subject to any defense related budget cuts at the start of the year. lockheed martin coming out bullish. rich edson has the whole story live at the pentagon. don't miss it. ♪ you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. ♪ >> i'm robert gray with your fox business brief. wall street continues to struggle with less than 30 minutes in the trading game. investors skittish of the return of the upcoming earnings season. spain's prospect for a bailout request and possible sovereign credit rating downgrade. right now the dow is off 46 points, the nasdaq now slightly higher. liberty media will soon find out how its takeover bid for serious ex-im is being received. the federal communications commission has set a november 1st deadline for
FOX Business
Oct 3, 2012 7:00pm EDT
caller uncovers a tape of senator obama june 2007 engaging in defense of class warfare rhetoric to a group of black ministers. take a look at his controversial remarks from his 2007 speech side-by-side with remarks less than one year later. >> special shout out to my pastor said guy who puts up with me, counsels me, listens to my wife complain about me. [laughter] and he is a friend and a great leader to everybody give an extraordinary welcome to dr. jeremiah wright. >> i have condemned this statement are reverend wright have caused controversy and pain. for some common nagging questions remain. today know him to be a fierce critic of domestic and foreign policy? >> of course. >> when hurricane andrew struck people said look at this devastation. what happens down in new orleans? where is your dollar? it makes no sense. tell me the ball it has not been taken out to. [applause] somehow the people in new orleans don't care about as much. >> brands taste the reverence comments were defensive added time when we need unity racially charged when we need to come together to solve monume
FOX Business
Oct 2, 2012 1:00pm EDT
assured by the department of defense that they will not be subject to any major cuts. what's going on? tracy byrnes and ashley webster have the story next on fox business. before copd... i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bnchitis and emphysema. it should not be taken more than twice a day. symbirt may increase your risk of lung infections, osteoporosis, d some eye problems. tell youdoctor if you have a heart condition or high blood pressure before taking it. with copd, i thought i'd miss our family tradition. now symbicort significantly improves my lung function, starting within 5 minutes. and that makes a difference in my breathing. today, we're ready for whatever swims our
FOX Business
Oct 3, 2012 11:00pm EDT
. president obama faltered tonight. he was halting. he was on the defensive. he couldn't wait to get off the stage. there's a reason for that. neil: that's your opinion. >> well, no, you could observe the fact he got off the stage. neil: i heard a lot, comments to jim lehrer, about you took my five seconds. >> there's a reason president obama struggled tonight. he struggled the last four years. you can't make a great defense of a record that's not been great. you can't communicate well things you have not delivered well. president obama has not had the four years he wanted to have. he had to talk about it and defend it tonight. he simply -- neil: what do you make, congressman, the argument, that the president is the champ; right? he survived without getting knocked down or knocked out certainly, the default goes to the champ. the champ regimely gets the decision. >> well, i don't know. i saw moments where it looked like he was on the canvas. when mitt romney was coming barks, and point by point saying, yes, you cut medicare -- neil: the five trillion, did you, you did not -- >> here's wh
FOX Business
Oct 4, 2012 7:00pm EDT
on the offensive. was he going to be aggressive. he was. energetic, aggressive. he had a vigorous defense of free-market policy -- policy from the start and he also used personal stories along the campaign trail. you can tell that he really, really had his brief down, his practice with ohio center ron portman. and basically president obama dial the end, even his supporters looked at him and said, how can this be happening? when you heard a former vice president al gore today say -- or last night say that it could have been the altitude in colorado, you knew that something was going south. lou: i mean, that is -- well, the former vice president given now to interesting comments in a but that was one of the more interesting of the day. it seemed the left was hell bent on rationalizing the failure of the president sign not even really, it seemed, any kind of competition with governor romney. what was -- what was the sense they're in this ben run? i'm dying to hear your comments on what you heard in the way in which these two camps were spending the evening. >> it was amazing. the debate ended. of fi
FOX Business
Oct 4, 2012 9:20am EDT
for turning around america. only a defense of the status quo. and excuses about, and blame games out there. i mean, where was the hope and inspiration that barack obama usually has. stuart: and look what's happening in the establishment media right now. literally as we speak. their immediate reaction was, they accepted that romney won. that was the immediate reaction after the debate. now, at 9:34 eastern time they're popping up and starting to come back to fight back. joe biden says, where are the specifics from governor romney. he failed to explain that romney would raise taxes on the middle class. he's coming right back at you. they took the defeat and coming back at you. what's your answer? >> well, it's going to be more excuses and negativity out of the obama campaign, which is no surprise because stuart, their record, as you have stated several times, and as we see from the new unemployment numbers being ratcheted up again, they have a horrible record on the economy, and more so, for the first time tonight, the american people realize that they have no plan whatsoever in getting us out
FOX Business
Oct 5, 2012 8:00pm EDT
. it is split between defense and non-defense fell the 3% of spending. is nothing. >> this does not go far enough? >> no. and the budget with spending cuts and paul ryan's cuts is only 10% of spending. $400 billion per year named as duplication and overlap from senator sessions and senator kohlberg 10 percent most have done that to say business. >> is there a political appetite on either side? they had a presidential debate. the fiscal cliff was not even brought up. who has the will to say this is not draconian the? >> the republican house proposed a budget of even more spending cuts and what chairmen ryan proposed. >> hugo year-round the say i have a plan in hand. take of buzz saw to it. fayyad of great plant corporations put more into the welfare fund but then they say higher taxes across the board is there the political will? >> they have to. otherwise it will be the future consequences medicated zinn trouble, the smaller items are so easy 26 different agencies the government is going broke why do they tell us how to balance the checkbook? >> you have been on top of this if we cannot do
FOX Business
Sep 30, 2012 1:30am EDT
and is necessary to prevent us from-- >> so you're worried and he's the only guy in the line of defense? >> you think there's somebody else? >> and mr. payne? is charlie going to bank on-- >> i'm sorry, i'm on to mr. payne. >> the ceo's-- the problem and they point specifically to the administration and listen, if you think this first, this war on success, this war on business is bad right now, a second term in my mind will be devastating because i sincerely believe the administration is going to have after profits generated overseas before they're brought back and reach over and take those profits and put them into infrastructure bank and i think there notion of taxing and the notion that the publicly traded companies that their property belongs to the public domain, of course the ceo's, every one of them have to be frightened. you've got 38 jars out there. the epa running amok. the national labor relations board. of course they're afraid. did you see the economic data this week? and the manufacturing contract, and. >> i think the confident report has a lot-- >> no, i think that they're being
FOX Business
Oct 2, 2012 4:00pm EDT
perspectives. you are more defensive. let me get to you because you heard mark talking about if we see another big selloff we start to get nervous but until then no. why are you not nervous or at least concerned? >> we are cautious about third quarter earnings and standard deviations above the mean and nominal gdp terms we are already below levels normally associated with recessions. it is difficult to see those margins being sustainable. europe is getting worse especially the currency -- trying hard to judge the value of the currency and hitting stronger so nothing new coming out of europe but china is slower. all those things are known but i don't think the market is discounting what is going -- cheryl: we say don't fight the central bankers. >> general you don't want to fight the central bankers but i also think we are reaching a limit what you can expect monetary policy to do in terms of what it will do for the overall economy. dave: that is the point. every time the fed comes out of the new money printing scheme and there has never been in my lifetime a money printing scheme like this whi
FOX Business
Oct 2, 2012 7:00pm EDT
national defense. ashley: meanwhile the white house engaged in a series of secret talks on the attack on al qaeda. it included the possibility of unilateral military action against al qaeda in the region. yet still american diplomats on the ground in libya denied additional security to ensure their safety. we take up all this right here tonight, we have retired lieutenant colonel, and also, moody's chief economist on why wall street might not care who wins this election. america's security and the obama administration's handling of foreign affairs quickly becoming one of the top issues with 35 days to the election. and one day before the very first presidential debate. as the white house continues to stonewall cracks in the deadly september 11 attacks in libya continued to emerge. fox news correspondent has more in our report. >> how secure was the u.s. consulate in benghazi before the attacks on 9/11? top republicans on the house oversight committee in a letter to secretary of state hillary clinton shows the security was unstable and unraveling and plead for help rejected. santa made repea
FOX Business
Oct 3, 2012 4:00pm EDT
're looking at? >> well it is a combination of being defensive. you know, big company, incredible balance sheet, incredible brand. well-positioned in emerging markets. if you're looking having a stock to hold, coke pays you a nice dividend, close to 3% and we think it weathers any storm and there is growth for coke long term in the emerging markets. it is a great double play, defensive and growth. david: all right, guys, thank you very much. bob phillips. thank you. larry, we'll see you in a couple minutes with the s&p close. thanks, gentlemen. lauren: he made billions of dollars investing in industries that nobody wanted. after buying into the housing market at the worst possible time why is he now selling his real estate holdings?. david: because people are buying big-time. will lure l ross, joins us in a fox business exclusive. used to be american home mortgage. then homeward residential. we'll talk about that in a second but i'm intrigued by our first guests at least one of them believing we're in a recession now. do you believe that? >> well, i don't think it meets the technical defi
FOX Business
Oct 3, 2012 5:00pm EDT
president of foreign defense policies studies at the american enterprise institute. thanks to both of now for joining us. these are dramatic pictures and dramatic events. as i'm reading about this, i'm reading about tear gas being used against demonstrators setting fire to tires. there there is all kinds of reports what is going on right now in iran. i mean is this the beginning of something big? walid, what do you think? >> well, yes that is the next wave we've been waiting for. remember in 2009 there was a massive demonstration of about 1.5 to two million iranians. mostly youth. but that was a political reason. now because of an economic reason. it is very serious. all defense militia -- melissa, depends not on how many are in the streets and depends what the international community is going to do including the united states. melissa: do you agree with that? >> i don't think it is the beginning of the end for the regime. i think the regime is at risk because this is something that affects all iranians. it is not about the nuclear program which many iranians don't care. it is not about s
FOX Business
Oct 1, 2012 11:00am EDT
perot issuing that dire warning. we're going to fact check it. tracy: in defense of the fed's latest easing, ben bernanke making his case, our rich edson is standing by live with bernanke in indianapolis. >> and we are blowing the lid off what a producer here is calling a pork-alypse. why last week's warning of a global bacon shortage is now being called hogwash. tracy: it was scary at the moment. now let's go to nicole petallides at the new york stock exchange. we have quite a rally. nicole: so far so good. the bulls out on wall street say hey i will take it. the dow jones industrials are up more than 1%. we have seen all the dow components 29 of the 30 in the green with the exception of microsoft. cisco hovering around the unchanged line. for the most part all have up arrows. less worries about europe, certainly one thing we have noticed. also the ism number coming in and that showed expansion rather than three months of contraction for u.s. manufacturing. so that was good news there. let's take a look here at goldman sachs. when you are looking at goldman sachs, it is interesting
FOX Business
Oct 4, 2012 1:00pm EDT
. on the other side, we own the traditionally defensive companies that hold up well in 08 and 09 from staples and healthcare names like mcdonald's , walmart, johnson & johnson, the first two were the only two positive stocks in the dow in 08. truly defensive companies. we feel you need a balance in your portfolio. ashley: it could set the tone for the markets. that tone could be pretty negative. i learned about that? >> well, so far all of the last ten quarters made even more corporate profits. or brett profits are slowing. that is where we are in the cycle right now. i think the real question is looking forward in 2013 as the fiscal cliff is adverted and congress and the president come to an agreement on a progrowth comprehensive tax reform then all gdp estimates, and corporate profits we accelerate north. tracy: about ten seconds, you think this rally is because of romney? >> i think a little bit to do with it. regardless of the outcome of the presidential election, as long as we have a split government and a split government will force either candidate to come to the table in terms of comp
FOX Business
Sep 27, 2012 8:00pm EDT
national defense and highways, and things like that everybody should pay something. you notice governor kaine, running down there for senate, former governor kaine, he said he would look at a tax proposal where everyone at least pays something. i think there is a -- i think that is a very american sentiment we all contribute. i came from a family with 9 kids, and we all put together to buy something for parents, i think that has real appeal, once you get in to specifics, you got problems. neil: you know, interesting in this, is that, even though romney caught hell for his 47% comments, accord toth poll, pat, 63%, think that substance of his comment about dependence on government is somewhat true. he is right. what do you make of that? >> you know something, 1935, fdr in his state of the union, said this relief, that is welfare is a narcotic, a subtle destroyer of the human shar hume must and shall get out of this business of welfare or relief, he is right, they did get out of it everyone agrees, if you have somebody that is down and got a rile problem, we all get together and help them
FOX Business
Sep 28, 2012 7:00pm EDT
public. defense secretary, leon panetta, secretary of state hillary clinton now conceding it was an act of terror. still no word, no correction from the man who steered the false narrative, president obama himself. we take up all of this here tonight with the republican strategist who served in the bush white house, and also, negative economic reports having little effect on the market today. lou joins us as does the head of the catholic league, bill donohue on where the obama administration funds anti-christian art, if you can call it art, and the fight with planned parenthood. we begin with the obama administration still trying to put forward a narrative that matches facts. terrorism is a foreign word for this administration whose lack of transparency is further qomp kateed by a complete lack of security in the consulate in an unstable, violent, muslim nation. we have the latest in this live report. katherine? >> well, thank you, lou. associate for the director of national intelligence issued a statement that seemed to give cover to the administration while at the same time acknowledg
FOX Business
Oct 2, 2012 6:00pm EDT
this week that lockheed martin is telling us that there will be no budget cuts, that is defense cuts coming. how does the obama administration have the authority to say sequestration is not going to happen? >> that is a very good question, and they do have the authority. but i will tell you that this does prove one thing. the administration will do anything to win this election. that is, they will do anything except effectively govern. we have had an opportunity for months now to avoid sequestration. the house of representatives has passed a bill to postpone sequestration and the senate has just ignored those efforts and done absolutely nothing. you have to ask yourself at the end of the day, here is what the labor department said. i want to get your response to it. this is about questions and requiring federal contracts whose contracts may be reduced in the event of sequestration. the answer to this question is no. in fact, it would be inconsistent with the purpose of the one. true or false, sir? >> well, it is very political. you are right. >> senator, do you think the labor department is
FOX Business
Oct 3, 2012 3:00pm EDT
the defensive sector is relatively expensive compared to other sectors with more risk. we think it is time to move out and drop those dividend paying stocks you have been flocking to and taking on more risk in the portfolio. ashley: very good. jim tierney, thanks for being here. the closing bell ringing in six minutes. one stock bouncing off of four year lows as investors like possible takeover talks. we have details when we come back. all energy development comes with some risk, but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. like in a special opsission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing ene
FOX Business
Sep 28, 2012 9:20am EDT
the united states can become more independent. that is the first -- defense spending. stuart: i have health care. you say health care will do well in the event of a romney win. explain that. >> specific companies and the health-care field especially medical device companies that create the most high end products which are expensive but raise the quality of our health care system those types of companies will benefit. during the affordable care act when it was drafted we added 2.3% tax on those companies so that tax might be repealed or reform. more ingenuity of type companies. stuart: that was a tax -- [talking over each other] stuart: 2.3%. if it goes away than that particular group biotech does well. >> under the current system is difficult to pass these types of costs to the end consumer. high end medical equipment. stuart: turn this around. suppose president obama gets a second term. industry winner. which is it? >> low-cost retailers. and dray romney presidency we are most likely to have a tax reform which will include value-added tax and the low-cost retailers are extremely tax sensit
FOX Business
Sep 28, 2012 1:00pm EDT
of the companies particularly defense companies, start sending out notices to their employees and to about plant closing and layoffs. if that happens we think there will be a lot of chatter, a lot of back and forth. that could create some jitters. but for right now, we don't see it, and i will point out that we've had the debt ceiling increased without political rancor that we're used to or maybe expecting. so right now, the market is telling us that it all looks good. ashley: all looks good. hey, look through rose tinted glasses as they say. thanks so much for joining us. we appreciate it. >> thank you, ashley. ashley: thank you. tracy: well, f stock members which is the financial stability oversight council, i think we ask rich edson about that, they will discuss a number of topics on domestic and global markets and voted approval on the 2013 budget. rich edson has more on that. am i right about that? >> you're right. we have the acronym. we have a lot of acronym tests here in washington. analysts expected the nation's top regulators to decide and reveal which large non-bank financial companie
FOX Business
Sep 28, 2012 5:00pm EDT
on betting on chicago public schools. melissa: in their defense the chicago public schools put out a statement saying over the past year we cut more than half a billion dollars all outside the classroom. we know this isn't enough to undo years of revenue losses as misplaced priorities. they say, they go on to say, say that like it is has been somebody else who spent all of this money and here they are the ones that are currently agreed to this tax hike, to this pay hike in order to end the strike. >> yeah. mayor rahm emanuel agreed to a contract he knew that the city could not afford. it is pretty clear there will be some blunt instruments used to try to cut costs. we're talking about a significant number of school closing. big layoffs. neither of which is good for chicago and chicago kids. but when you agree to contracts that you can not begin to afford, there are going to be consequences. melissa: what do you think is the lesson that other school districts around the country take away from this? do you think other teachers see this and say, you know, those teachers were tough. th
FOX Business
Oct 1, 2012 4:00pm EDT
, a big defense for qe3 and the monetary policy has been pursuing this in response to the fox business network. the u.s. is not in a recession now. he's worried about stagnation, not monetizing the debt. he says they'll sell asset off, and they expect to keep policy like this, monetary policy like this even after a considerable improvement in the markets. he also talked about savers. you have money in savingsing thes, getting little, really, in return. >> the best and most comprehensive solution it -- is to find ways to get a stronger economy. only a strong economy can create higher asset values at sustainably good returns for savers. without a job, people won't be able to buy a home or pay for an education ire irrespective of te current level of interest rates. >> saying the federal reserve is watching inflation, has the tools to combat it. he says it's not an issue right now. he also discussed milton friedman saying ben bernanke is a fan of mil torks saying freedman would have supported the feds aggressiveness and targeting of liquidity. he said back in 2009, the reason he believes t
FOX Business
Oct 1, 2012 6:00pm EDT
or people who were trying to get insurance, i think he's right. there's a certain defensiveness is true in the "wall street journal" piece. specifics, anecdotes, fax, those are crucial. gerri: rodney knows these people his a baez's have met these people. he meets with real people when he travels around the country, people who are afraid of losing their jobs, have lost their jobs. he has actually seen the suspect. he is just not been able to put it into a human form. gerri: we have a long way to go. the debate is coming up. want to know what you think about it. thank you for coming in tonight. appreciate your time. >> thanks. gerri: make sure you catch the coverage of the first presidential debate in denver hosted by neil cavuto this wednesday starting at 8:00 p.m. eastern time. also happening today in case you missed it, stocks ended higher following a strikingly strong increase in manufacturing last month. the dow rose 78 points. it has been up 161 points, but it gave of that up after a speech this afternoon by the federal reserve chairman. a lot more on the rally on wall street throug
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